Is DeFi safe?

[EAA-ALLAH]

DeFi platforms may not be at risk of security breach in the same kinds of ways that centralized platforms are–but they certainly aren't completely safe from harm... Please comment.

[Nostoman]

Since defi is new. So I don't know much about Defi security. However, in all the news that I have seen, the highest is said to be about defi protection. Defi protection is much better. So now there is nothing new to say about defi. The defi platform is now much advanced. There is no doubt about it one step ahead.

[Btceth01]

Now a days DeFi is only the best platform to invest. So i think obviously DeFi investment is safe and secure.

[hair]

Well. I don't know whether DeFI is safe or not. But currently DeFi is booming and famous. I think DeFi will do just fine and is a promising investment

[Msweet]

DeFi is Decentralized Finance (DeFi) which allows decentralized networks to convert old financial products operated without intermediaries into trusted and transparent protocols.

[vaysar]

DeFi itself is safe, but there are a lot of scammers around these projects, there are a lot of fake airdrops on Telegram that offer you DeFi tokens for simple actions, for example, fill out a Google Form with the Eth address and Telegram name, after filling out you are asked to send a little Eth to create a liquidity pool on DEX most often they do not have a token contract address. If you are asked to submit to Eth, they are scammers, do not believe them.

[Hometown]

No investment is safe in cryptocurrencies market because I don't recognise Binance and kucoin also hacked and a huge amount of money, assets and liquidity stollen by hackers. So DeFi also risks and dangerous but profitable also.

[EAA-ALLAH]

No investment is safe in cryptocurrencies market because I don't recognise Binance and kucoin also hacked and a huge amount of money, assets and liquidity stollen by hackers. So DeFi also risks and dangerous but profitable also.

Yes mate a few days ago popular centralised exchange KuCoin hacked and $150 million equivalent assets hacked. So in cryptocurrency market no investment safe and secure. But we are still investing and trading cryptocurrency with risks.

[Bobcrypto]

Generally speaking, every business is associated with one form of Rick or another. Infact, business is a pool of risk. Crypto has it own risk, like several hacks, scam ICOs/IEOs, fake bounty campaigns and air drops etc; the Defi project may have some of these senero now and in the future.

[Vx1]

Nothing is safe here, every step we choose to invest in Cryptocurrency, including Defi, we still have to be careful and must be ready with all the risks of loss. Currently Defi is indeed booming, but that cannot be a guarantee that we will benefit from here.

[hair]

Nothing is safe here, every step we choose to invest in Cryptocurrency, including Defi, we still have to be careful and must be ready with all the risks of loss. Currently Defi is indeed booming, but that cannot be a guarantee that we will benefit from here.

yes, the loses and profits are always there including in the DeFi project. the most important thing is to minimize these losses.

[Coin63@]

I think DeFi investment is profitable and potentially worthy to invest but all investments have risks. DeFi investments also very much risky. Some DeFi projects are gradually becoming popular but not keeping market stable.

[Altcoin1998$]

I think DeFi investment is profitable and potentially worthy to invest but all investments have risks. DeFi investments also very much risky. Some DeFi projects are gradually becoming popular but not keeping market stable.

Yes brother it potentially worthy to invest but also risky.
Here you noticed the yearns Finance DeFi project development and now it already under way. If any investors invest when YFI prices high, but now he lost half of his investment money.

[Triedboy]

DeFi project is a very strong project. Now day DeFi project almost peoples investing.so I think 100% sure DeFi project investing is safe.

[Gurujebs]

DeFi platforms may not be at risk of security breach in the same kinds of ways that centralized platforms are–but they certainly aren't completely safe from harm... Please comment.

You mean hack?
With thousands of Usdt and ethereum hack tokens, we need to reconsider and restructure the decentralized finance. We need full audit before a project should kick in other to save investors.
So many projects has been hack since the beginning of this trend and lots of investors has been on the edge of collapse.
For example, yfmoonshot was just hack with tempered  smart contract and thousands of Eth were stolen from vault.